The Ionian Beach Hotel is owned by Hydra Bay Properties plc, a UK company specialising in the purchase, development and letting of holiday accommodation in Greece and concentrating on locations close to the sea. The hotel is operated by wholly owned Greek subsidiary company Hydra Bay SA. The hotel was acquired in 2005.
Market background
In recent decades, Greece has been less popular with British investors than many parts of Western Europe. France, Spain and Italy have been preferred locations for property investment, while Greece has pursued a less frenetic development path. Restrictions on foreign ownership of property in Greece were only lifted after it gained membership of the EU in 1981, whilst tight planning restrictions have resulted in far less intensive development than that experienced elsewhere in the Mediterranean. The result has been that Greece has retained its appeal as a more authentic destination, protective of its’ fascinating culture and traditions, which in many areas attracts more discerning visitors and property investors.
The choice of Athens for the 2004 Olympics accelerated improvements in infrastructure. A new airport was built for the city and there are now around 16 flights a day between Athens and the UK. The journey time from London is about three hours and, unlike many of the routes to the remote Greek islands, flights are regular throughout the year. There have also been major investments in motorways, communications links and leisure facilities prior to the Olympics. The Peloponnese has become more accessible by road from Athens, whilst seasonal charter flights to Preveza airport on the western mainland are now within reach thanks to the new Rion bridge.
Hydra Bay Properties plc has set out to take advantage of these favourable investment conditions and The Ionian Beach Hotel is its first significant investment in Greece.
DIRECTORS’ BACKGROUND:
The Board comprises three Executive Directors, as follows:
Managing Director: Michael Sherley-Dale
Michael was formerly Managing Director of City North Group plc, a Central London property business, which was floated on the main London Stock Exchange in May 1998. Michael intitiated the formation of the City North Group in 1988 as a specialist in property letting and development. City North Group plc had gross assets in excess of £100 million and net assets of £58 million. Michael was also Non-executive Chairman of Leisure Direction Limited from 1998-2008, where he was instrumental in restructuring the financing of the business . Michael brings extensive expertise in property investment, development and letting to the Company. He oversees all the building works of the Company.
Marketing & Operations Director: Alan Potts
Alan is Managing Director of BUYability Limited, a company specialising in online marketing and promotion. Previously, he was Managing Director of Leisure Direction Limited, a London-based specialist in European travel, which he founded in 1987 and grew to over £26million turnover with an active customer database of 250,000. Alan was a General Manager with International Leisure Group (Intasun, Club 18-30) from 1983-1986 and spent several years living and working in Greece. He also had a senior consultancy role with Grecian Holidays in the late 1980’s. He is a Fellow of the Institute of Travel and Tourism and sat on the Advisory Board of Maison de la France, where he was involved in developing international marketing strategy for France. Alan provides the benefit of more than 20 years experience in the overseas travel industry, with a specialist knowledge of Greece. He oversees all marketing and operational aspects of the Company.
Director & Company Secretary: Chris Lorenzo
Chris is Managing Director of Best of Travel Limited, a specialist tour operator based in London. He was educated at Athens and London Universities and was Director of Eastern Mediterranean Operations at International Leisure Group (Intasun,Club 18-30) between 1988-91. Chris spent some years working in his family’s hotel business and has managed a two hundred bedroom hotel for two years in the region of Attica, near Athens; He founded Seafarer Cruising and Sailing Holidays in 1994 and purchased Best of Greece in 2000. Chris has an in depth knowledge of Greek business, leisure and culture. He is the administrator of our Greek operating company and plays a key role in liaising with local authorities, trade contacts and legal representatives as well as marketing the Company’s accommodation under the Seafarer brand and providing sailing and water sports expertise.
HOTEL MANAGEMENT TEAM:
Hotel Commercial Manager: Dimitra Dimopoulou
Reservations Manager: Vivi Sakka
Entertainments Manager: Julie Radford
Beach Manager: Giles Airey
